Palisade Bio Inc. (Nasdaq: PALI), a clinical-stage biopharmaceutical company, has announced an agreement with several accredited investors to exercise existing warrants to purchase up to 4,318,905 shares of common stock. These warrants have been exercised at a reduced price of $0.9047 per share, resulting in expected gross proceeds of approximately $3.9 million. The proceeds will be used for working capital and general corporate purposes. In exchange for the immediate exercise of these warrants, investors will receive new unregistered warrants, allowing them to purchase an additional 8,637,810 shares of common stock at the same exercise price, with a term of five years. Ladenburg Thalmann & Co. Inc. served as the exclusive placement agent for this transaction.
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